Belgrade is booming with development projects

Belgrade is booming with development projects

Belgrade is booming with development projects, from suburbs to the downtown. This is mainly true for residential and office space, with retail space lagging behind a bit. These trends were the main topic of discussion at the Booming with new projects – Belgrade development panel at the Balkans Property Forum 2019, an event held at the Hilton Hotel in Belgrade on December 3rd, which was moderated by Mia Zecevic, CEO of Novaston.

„This year`s focus was on residential and office real estate while the retail space market is still evolving. The previous two years were aimed at investment projects in the third category. This year had been marked by the inclusion of industrial and logistic centers which will be especially interesting in the year to come, said Mia Zecevic.

Belgrade is booming with development projectsGoran Zivkovic (CBRE) and Jovana Martinovic (Merin Holdings) discussed relevant current projects in Belgrade, from the phenomenon of rise in demand of residential space even with the prices of m2 constantly on the rise, to Belgrade Waterfront buyers (domestic vs foreign), and active and future projects of Merin Holdings in the region.

Claus Graggber (Erste) held a discussion about office space, details of the Project Sirius 2 in New Belgrade, expected finish date, and potential tenants. The discussion continued with the focus on how to position yourself towards competition, as well as the position of Erste Bank as the leader in real estate investement sector.

Katarina Gajic (Delta) continued the discussion about expansion and future plans of Delta company, from Delta House project which is to become the new HQ of Delta, plans and adaptations of Sava Centar, the opening of Delta Planet shopping centar in Banja Luka and Varna, why Delta Planet Autokomanda didn’t open in 2019. and other.

Belgrade is booming with development projectsJosko Pitesa (Immofinanz) extensively explained how retail sector may yet thrive in Serbia in years to come. STOP SHOP, as the leader in Serbia and Slovenia and planned expansion in Croatia, was also the topic of this panel, as well as future acquisitions in the region. Josko Pitesa explained how competing with big players such as BW, MPC, Nepi, Delta, GTC or BIG CEE in Belgrade wasn’t a good strategy, and that the key was in expansion to smaller towns in the form of retail parks.

“Belgrade has plenty of investors while the rest of Serbia has a huge potential for growth. The focus should be on enterprises that bring success“ Pitesa said, answering why their focus isn’t on Belgrade.

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